July 2016 Numismatic-related legislation

As we do every month, we look back at the previous month’s activity in congress that will affect us numismatically. July started with congress on their 4th of July break coming back for a one week session before leaving to attend their respective conventions.

Prior to leaving, congressed passed the United States Semiquincentennial Commission Act (Public Law 114-196). The law authorizes the formation of a commission to organize the national celebration of the 250th anniversary of the founding of the United States on July 4, 2026. It was signed by President Obama on July 22, 2016. Section 5, Paragraph (c)(2)(F) of the new law recommends that the commission encourages “Federal agencies to integrate the celebration of the Semiquincentennial into the regular activities and execution of the purpose of the agencies through such activities as the issuance of coins, medals, certificates of recognition, stamps, and the naming of vessels.”

Those of us who are old enough to remember, this was the first time in the modern era that circulating commemoratives were issued. The quarter, half-dollar, and dollar coins all had special reverse designs that were issued in 1975 and 1976. These coins remain popular amongst collectors and an interesting curiosity when non-collectors find the quarter with the drummer boy reverse in their pocket change. Although circulating commemoratives are not a new concept since the advent of the 50 State Quarters series, there is an opportunity to consider something interesting to celebrate on all U.S. coinage rather than just certain denominations.

The only other piece of legislation legislation of concern was that the Financial Services and General Government Appropriations Act of 2017 passed the House on July 7, 2016. The bill authorizes the U.S. Mint to withdraw up to $30 million from the Public Enterprise Fund for its operations. This is an increase of $10 million from when the bill was originally submitted in June.